Browsing Category: "Forex Auto Scalper"
Forex Auto Scalper recommends Robin Hood system…
Yesterday I received an email from Martin at Forex Auto Scalper recommending that I take a look at a new Mechanical Trading System known as the Robin Hood Mechanical Forex System.
I was going to pass over this ‘opportunity’ to be honest but as it wasn’t going to cost me anything I decided to take a look.
You get a 70 page pdf explaining how the system works and what you need to operate it. There are also two videos that accompany the package so I spent the last day or so getting familiar with the contents.
I found everything to be straightforward and easy to understand so I am trialling on a demo account to see how things go. From what I’ve read and seen this is somewhat of a scalping strategy so don’t expect massive pip gains time after time. It seems that the strategy is to make small gains on a regular basis whilst ensuring that there is a sensible money management regime in place if things go against you.
As it’s early days I can’t say one way or the other as to the viability of the system but as it is mechanical it does have the advantage of taking emotion out of the decision making which is attractive to me.
One potential disadvantage that I can see is that trades may take some time to work through so once it is entered you would need to keep a close eye on it for closing. The system author, Daniel Malaby, sounds sincere and is keen to make sure that users of the system understand and apply the rules in terms of trading and money management. So, if you’d like to give the Robin Hood Mechanical Forex System a try then the free download is still available.
I was going to pass over this ‘opportunity’ to be honest but as it wasn’t going to cost me anything I decided to take a look.
You get a 70 page pdf explaining how the system works and what you need to operate it. There are also two videos that accompany the package so I spent the last day or so getting familiar with the contents.
I found everything to be straightforward and easy to understand so I am trialling on a demo account to see how things go. From what I’ve read and seen this is somewhat of a scalping strategy so don’t expect massive pip gains time after time. It seems that the strategy is to make small gains on a regular basis whilst ensuring that there is a sensible money management regime in place if things go against you.
As it’s early days I can’t say one way or the other as to the viability of the system but as it is mechanical it does have the advantage of taking emotion out of the decision making which is attractive to me.
One potential disadvantage that I can see is that trades may take some time to work through so once it is entered you would need to keep a close eye on it for closing. The system author, Daniel Malaby, sounds sincere and is keen to make sure that users of the system understand and apply the rules in terms of trading and money management. So, if you’d like to give the Robin Hood Mechanical Forex System a try then the free download is still available.
FAPTurbo and Forex Auto Scalper suffer in volatile conditions…
I mentioned at the end of last week that I would not be trading with FAP Turbo or Forex Auto Scalper this week as events in the US and general economic conditions seem to be hanging heavily on the market.
This seems to have been a wise decision as reading various reports things have not worked well this week. Right at the beginning of the week I noticed a trade on my Forex Auto Scalper that resulted in a 20 pip loss (this was outside of normal trading time) so I immediately closed it down.
Reading the FAP Turbo forum there are many posts where people have experienced losses, especially on the GBPCHF. Some people have lost a sizeable amount of their bank and are smarting from the experience.
Having said all that I believe there is some evidence that the big losers were using settings that were less than conservative so there is a case for reaping what you sow to some extent.
A very useful site that will provide detail trades on both FXDD and FX Pro live accounts is FapTurbo Review. When you sign up with your email they will send you a weekly commentary on how they fared during the week. They also show the settings they use to help newcomers.
I will watch how things go next week to decide whether I will start up either FAP Turbo or Forex Auto Scalper for trading. As said on many comments I’ve seen being out of the market in volatile times is just as important an investment strategy as being in it when profits are being made.
Again, many people seem to expect these tools to provide instant profits of a sizeable nature. I think this is the wrong approach. Time is on your side because the market is always there and as long as you use compounding sensibly the long term is a better bet for overall profitability.
This seems to have been a wise decision as reading various reports things have not worked well this week. Right at the beginning of the week I noticed a trade on my Forex Auto Scalper that resulted in a 20 pip loss (this was outside of normal trading time) so I immediately closed it down.
Reading the FAP Turbo forum there are many posts where people have experienced losses, especially on the GBPCHF. Some people have lost a sizeable amount of their bank and are smarting from the experience.
Having said all that I believe there is some evidence that the big losers were using settings that were less than conservative so there is a case for reaping what you sow to some extent.
A very useful site that will provide detail trades on both FXDD and FX Pro live accounts is FapTurbo Review. When you sign up with your email they will send you a weekly commentary on how they fared during the week. They also show the settings they use to help newcomers.
I will watch how things go next week to decide whether I will start up either FAP Turbo or Forex Auto Scalper for trading. As said on many comments I’ve seen being out of the market in volatile times is just as important an investment strategy as being in it when profits are being made.
Again, many people seem to expect these tools to provide instant profits of a sizeable nature. I think this is the wrong approach. Time is on your side because the market is always there and as long as you use compounding sensibly the long term is a better bet for overall profitability.
3 steps to online investing success…part 3
In this third and final post about the how to start in online investing I’m going to make some suggestions for those who are just starting out. Hopefully this will help to save you time and also provide some guidelines on the do’s and don’ts of this precarious endeavour.
Before making any specific recommendations it’s worth clarifying exactly what range of investments I’m referring to when I talk about online investing. Broadly speaking there are two types:
- Active
- Passive
I’m going to start with Active programs as they are best suited to those who have little or no capital to start with. Once you have earned a reasonable amount through these programs you can then start to make deposits in Passive funds where the work is done for you.
Active investments as suggested require some action on your part. This may be in the form of recruiting others or by using signals from software or other means to trade.
Let’s start on the assumption that you have no money to invest at all. Firstly, don’t expect that you will wake up one day to find vast sums of money flooding into your account, this happens to a very small minority so is not a good way to plan for yourself. If you are happy to recruit others then I’d recommend signing up at me2everyone, for free. When you do you will be eligible for 1,000 free shares in this new UK company. They have ambitious plans to leverage Web 2.0 capability by building online communities where everyone can prosper. By recommending others you will earn more shares and as the company grows the value of these shares will increase. All memberships are free and as everyone receives 1,000 shares on joining it’s a good way to get started.
If trading on the markets appeals to you then I have three recommendations to make. Firstly George Smith at Forex Trading made e-z has a strategy that can provide a steady return with minimal risk. At $77 for his e-book and video’s this is great value for money. As his trading style may not suit everyone he provides a full 60 day money back refund policy.
For those people (especially in the UK and Europe) who would like to trade the markets in the evening then you should take a look at Foolproof Evening Trading by Louise Woof. Priced at £157 Louise provides a simple system that has given good profits every month. Note that this is based on spread betting so you should check to make sure that you are allowed to do this is your country.
At the more costly end of the market is the Ultimate FX Predictor from Keith Cotterill. With this system you get a software program that provides signals as to when to enter trades on the major currency pairs. As well as the software there is a comprehensive support system in place to help if you have problems. Also, Keith provides regular video updates and commentary on the days trading and his thoughts on what will happen in the short term. At over £2,000 for the system and a monthly ongoing cost of $80 for the data feed this is not something to be entered into lightly. Again, this is a spread betting product so check that it is okay to use in your country.
Okay, so now let’s look at some Passive opportunities. Here all you need to do is provide the funds and leave the hard work to others. Whilst several of these opportunities don’t cost much to join you should note that they don’t provide a great deal of information about how they work and their communication is not always that great. One place where you can get up to date information about most of them is at the Secure Your Future forum so if you do consider parting with funds then I’d recommend you join this forum as well.
As we approach the end of January it’s a great time to join Global Pension Plan. It costs a very reasonable €20 to join and the reward is €55,000 (€110,000 if you are under 27). This program has been online for some time and the admin has announced that it will finally close at the end of January 2009.
Also nearing completion is Thirty Dollar Unit so once again it is important that you act quickly if you wish to take part. Here you pay $30 with a return of $12,500 when payouts are made. It is important that you follow instructions carefully when signing up as there are a large number of people signing up at the moment and any mistakes will only delay final payout (please add name John Murphy as referrer).
You could also consider Imperia Invest as for a reasonable $50 you can end up with a healthy return of $134,000. Note that your Traded Endowment Policy (TEP) would need to be in place for six months before you see your return.
If Trading FOREX passively is of interest then take a look at Forex Auto Scalper (download for free) and FAP Turbo (currently $149 but due to rise to $399 soon). These are both Expert Advisors (EA’s) that you apply to a live account and will trade for you.
If you are looking to start some online investments as described above you will obviously need to consider some of the points raised in my first post that relates to the psychology of investing and when satisfied that you match the personality type you can move on the next stage which is finding a payment processor as described in my second post.
Take your time in reading about all the opportunities presented here and please let me know of any questions you might have. Good luck.
My Forex Auto Scalper goes live on Forex VPS…
Having used Forex Auto Scalper for a week now on a demo account with FXPro I decided yesterday that it should be added to my live account.
Currently I trade EURGBP and EURCHF live using FAP Turbo. As mentioned my account is with FXPro and their MetaTrader 4 platform is loaded up on my ForexVPS account. This is a virtual server that means I don’t have to worry about running the service on my own computer and the potential problems that might bring.
Having made the decision to trade Forex Auto Scalper on my live account I had to get the EA from my PC to the VPS. I tried a couple of methods but ended up using FileFactory to upload the file from my PC and then download it on the VPS. Not particularly elegant and I’m wondering whether I could have used the Remote Desktop facility in XP, anybody have an idea on that at all?
One of the constraints that FXPro imposes is that I have to use fixed lot sizes rather than the recommended method. This doesn’t seem to have been a problem with FAP Turbo so I’m hoping it won’t be here.
As Forex Auto Scalper trades the EURUSD it is in play from 7AM GMT to 4PM GMT which works nicely with FAP Turbo as that trades from about 8PM GMT through to the early hours.
It will be interesting to see how the Forex Auto Scalper works on a live account as there is always a difference from a demo account.
Check back to see how things go from tomorrow.
Currently I trade EURGBP and EURCHF live using FAP Turbo. As mentioned my account is with FXPro and their MetaTrader 4 platform is loaded up on my ForexVPS account. This is a virtual server that means I don’t have to worry about running the service on my own computer and the potential problems that might bring.
Having made the decision to trade Forex Auto Scalper on my live account I had to get the EA from my PC to the VPS. I tried a couple of methods but ended up using FileFactory to upload the file from my PC and then download it on the VPS. Not particularly elegant and I’m wondering whether I could have used the Remote Desktop facility in XP, anybody have an idea on that at all?
One of the constraints that FXPro imposes is that I have to use fixed lot sizes rather than the recommended method. This doesn’t seem to have been a problem with FAP Turbo so I’m hoping it won’t be here.
As Forex Auto Scalper trades the EURUSD it is in play from 7AM GMT to 4PM GMT which works nicely with FAP Turbo as that trades from about 8PM GMT through to the early hours.
It will be interesting to see how the Forex Auto Scalper works on a live account as there is always a difference from a demo account.
Check back to see how things go from tomorrow.
Developers of Forex Auto Scalper broaden offering…
There seems to be a lot of interest being generated about Forex Auto Scalper at the moment. My previous post will give those unfamiliar with this new robot some details.
Following close on the heels of this Forex Robot the developers have also sent out details of a trading strategy that they are calling ‘Slingshot 30M Mechanical Forex System‘ – catchy name or what!
Unlike the Forex Auto Scalper this is something that you would need to pay close attention to if you want to use it. It’s essentially a methodology that Martin Alexander uses to make small regular gains.
When you go to the ‘Slingshot 30M Mechanical Forex System‘ site you will find two videos. The first gives the overall background, why and how the system works and what the criteria are. The second video shows examples of trades that he has made.
For those who would like to download the two videos rather than stream them you can find them here
I think I will stick to the Forex Auto Scalper as it is less work for me.
Personally I won’t use it as it requires you to be glued to the screen concentrating very hard for what could be long sessions. However, Martin does say that his clients have asked for such a system so he has decided to release it.
